Latvia — Country Profile
Population, GDP, natural resources, leaders and history of Latvia: the Magna Factbook country file, with its Magna Power score (--/100, ranked #-- of 195).
Last updated: October 2026
Latvia is in Eastern Europe, bordering the Baltic Sea, between Estonia and Lithuania. It covers 64,589 sq km. 4 May 1990 (declared from the Soviet Union); 6 September 1991 (recognized by the Soviet Union). Terrain: low plain. Climate: maritime; wet, moderate winters.
| Capital | Riga |
|---|---|
| Population | 1,888,439 (2025 est.) |
| GDP (PPP) | $72.516 billion (2024 est.) |
| GDP per capita (PPP) | $38,900 (2024 est.) |
| Real GDP growth | -0.4% (2024 est.) |
| Inflation | 1.3% (2024 est.) |
| Unemployment | 6.8% (2024 est.) |
| Public debt | 36.3% of GDP (2017 est.) |
| Exports | $28.117 billion (2024 est.) |
| Imports | $29.234 billion (2024 est.) |
| Life expectancy | 76.4 years (2024 est.) |
| Median age | 43.8 years (2025 est.) |
| Urbanization | 68.7% of total population (2023) |
| Government | parliamentary republic |
| Independence | 18 November 1918 (from Soviet Russia); 4 May 1990 (declared from the Soviet Union); 6 September 1991 (recognized by the Soviet Union) |
| Languages | Latvian (official) 56.3%, Russian 33.8%, other 0.6% (includes Polish, Ukrainian, and Belarusian), unspecified 9.4% (2011 est.) |
Latvia’s GDP is $72.516 billion (2024 est.) in purchasing-power-parity terms. At official exchange rates it stands at $43.521 billion (2024 est.). Real GDP grew -0.4% (2024 est.). See where Latvia ranks among all 195 countries by GDP.
POWER --/100 — The Magna Power score is our 0–100 composite of structural national power — nine components, 135 indicators. It is the Bureau's own assessment, not a mirror of World Bank or CIA figures.
Momentum 0 — Quarterly momentum: the Bureau's read on the country's trajectory over the last quarter, from −10 (deteriorating fast) to +10 (accelerating).
The quarter passed without decisive turns. Governance continued, markets functioned, and the score reflects that uneventfulness.
For countries like this, the real story is always the slow one — and this quarter added no new chapter to it.
- What our model rewards: inflation tamed at 1.3%; public debt under 36% of GDP — room to maneuver
- What drags it down: fertility of 1.2 children per woman — below replacement, the cradle is emptying
Hydropower, Timber.
Energy is the physical base of economic power — what a country can generate, move and burn decides what it can build, sell and defend.
| Electricity access | 100% (2022 est.) |
|---|---|
| Installed capacity mix (CIA) | fossil fuels: 22.4% of total installed capacity (2023 est.); solar: 3.8% of total installed capacity (2023 est.); wind: 4.2% of total installed capacity (2023 est.); hydroelectricity: 59.3% of total installed capacity (2023 est.) |
| Energy consumption per capita (CIA) | 65.908 million Btu/person (2023 est.) |
| Primary energy consumption (OWID) | 38.8 TWh (2024) |
| Electricity generation (OWID) | 6.5 TWh (2024) |
| Energy per capita (OWID) | 20,723 kWh per person (2024) |
| Electricity generation mix (OWID) | Hydro 50.2%, Gas 25.7%, Solar 7.9%, Wind 4.2% (2024) |
| Low-carbon share of electricity (OWID) | 74.3% (2024) |
| Carbon intensity of electricity (OWID) | 136.2 gCO2/kWh (2024) |
Sources: CIA World Factbook, Energy section; Our World in Data (IEA/Ember), 2024.
Trade shows what the world buys from a country and what the country must buy from the world — the balance between the two is a direct measure of economic leverage.
| Exports | $28.117 billion (2024 est.) |
|---|---|
| Imports | $29.234 billion (2024 est.) |
| Trade balance (calculated) | Deficit of $1.1 billion (2024), calculated from the CIA export and import figures above. |
| Key industries | processed foods, processed wood products, textiles, processed metals, pharmaceuticals, railroad cars, synthetic fibers, electronics |
Source: CIA World Factbook, Economy section.
Andris Kulbergs — Prime Minister. President Edgars RINKEVICS (since 8 July 2023)
Latvia maintains 38 embassies and 1 consulates abroad, hosts 38 foreign diplomatic missions, holds permanent missions to UN New York, UN Geneva, EU Brussels, NATO Brussels, OECD Paris, UNESCO Paris, OSCE Vienna, CoE Strasbourg. The breadth of a diplomatic network is a direct measure of diplomatic power — it shows how far a country’s influence, alliances and interests reach.
| Embassies abroad | 38 |
|---|---|
| Consulates abroad | 1 |
| Foreign missions hosted | 38 |
| Multilateral missions | UN New York, UN Geneva, EU Brussels, NATO Brussels, OECD Paris, UNESCO Paris, OSCE Vienna, CoE Strasbourg |
Source: Abroad: Lowy GDI 2024 via Wikipedia https://en.wikipedia.org/wiki/List_of_countries_by_number_of_diplomatic_missions . Hosted: Consular Affairs Center in-country ranking, Jan 2026 (Riga 38). Multilateral rosters as for AUT.
Transport networks are economic power made physical — ports, runways, railways and pipelines decide what a country can move, sell and defend.
| Sea access | Coastal — 498 km of coastline. |
|---|---|
| Airports (total) | 55 + 5 heliports (registration prefix YL) |
| Major seaports | Lielupe, Liepaja, Riga, Salacgriva, Ventspils |
| Railways | 2216 km |
Major airports
Liepāja International Airport (LPX) — Liepāja; Riga International Airport (RIX) — Riga.
Sources: OurAirports public-domain extract (2026-10-02); per-entry Wikipedia links included; CIA World Factbook via cia_factbook snapshot (2026-09-28)
| Political system | parliamentary republic |
|---|---|
| Next election | No election currently scheduled. |
POWER --/100 Ranked #-- of 195 countries in the Magna Country Rankings. Full ranking breakdown for Latvia.
This profile covers the population, economy, natural resources, leaders, and history of Latvia — with the Bureau’s live national-power score of --/100, ranking #-- of 195 countries.
What is Latvia's power score?
Latvia has a Magna Power score of --/100. The score measures structural power — the proven capacity to shape events — across nine components.